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With the Polymarket market for the Brazilian elections now trading almost $150 million in volume, trading on Polymarket has now shifted significantly. With the Brazilian election, set for early October, looming, and Flávio Bolsonaro, son of former Brazilian President Jair Bolsonaro, largely recovering from the documentary scandal, traders on Polymarket are predicting that the race between him and Luiz Inácio Lula da Silva will be a tight one. Traders are assessing that Bolsonaro has an edge over Lula, as they assess at 50% that Bolsonaro will win and at 46% that Lula will win.

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